On Wednesday, America’s most popular cryptocurrency exchange, Coinbase, added support for Dogecoin on its wallet app. Now, Dogecoin holders can store their DOGE tokens on the Coinbase Wallet.
Coinbase is a reputable cryptocurrency company. Over the years, many cryptocurrencies have enjoyed extra credibility, adoption, and price surge by getting listed on Coinbase or being added to the Coinbase Wallet app. This is called the Coinbase effect and Dogecoin is going to enjoy it too. Coinbase has a reputation of listing only the cryptocurrencies with the highest prospects. This is why users tend to be more inclined to buy a cryptocurrency that is listed on Coinbase.
Per the announcement, all Coinbase customers with Android and iOS devices will be able to use DOGE in from next week. Following the announcement, Siddharth Coelho-Prabhu said;
“Our goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet. Coinbase Wallet already supports Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, XRP, Stellar Lumens, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum. Adding support for DOGE is an important next step toward our goal.”
This announcement comes shortly after Coinbase announced the release of a feature that allows its customers to store encrypted versions of their private keys on their cloud accounts on iCloud or Google drive. The private keys can easily be accessed through the Coinbase Wallet app using a user’s password. Shortly after this feature was released, critics bashed Coinbase as they considered the method of storage unsafe.
Dogecoin Price Prediction 2019
As soon as Coinbase announced that it will be enabling support for Dogecoin in its wallet app, the price of Dogecoin spiked against the USD. While the spike wasn’t too high, it was encouraging to investors considering the recent loses. In the future, this support is only going to increase the adoption of Dogecoin and boost its price accordingly.
At the time of writing, the price of Dogecoin was trading at $0.002547. This means that it is up by 1.86% against the USD and up by 1.03% against the price of Bitcoin. The trading volume over a 24 hour period is $28,889,775 and the market capitalization is $303,939,705. If the Dogecoin projection continues to be positive, the price of the cryptocurrency will continue rising. Before the end of the year, Dogecoin may sell as high as $1 as stated in our previous Dogecoin price prediction 2019.
Dogecoin (DOGE) News – Dogecoin (DOGE) Price Analysis
Dogecoin has made unbelievably progress since it was created. Now, the Dogecoin projections, and Dogecoin price prediction 2019 are bullish due to the positive Dogecoin news that has been surfacing on the internet. Dogecoin has excelled rapidly and is now one of the most popular cryptocurrencies on the space.
According to the latest DOGE price analysis on cryptonewsz; analysts’ predict that if DOGE sustains the bear run, then it would do well next year. Strong fundamental features like faster transaction speed, low transaction costs, and high security make it one of the most attractive coins for investors to invest in. Its growing intrinsic value will help pull in institutional investors. Also, it is listed on Trust Wallet; this is a major boost for Dogecoin because Trust Wallet lists only those cryptocurrencies which show potential.
The coin is also developed with social well-being in mind; it is always giving to charity. Dogecoin’s price swings are related to Bitcoin’s price swings. If Bitcoin is going for another bullish trend, then DOGE is set to follow it.
Two main factors are going to affect the price of Dogecoin in the near future; one is the entry of new investors and second is the linear growth of the crypto market as a whole. It is one of the most consistent coins and this has helped it to consolidate its position in the market.
Bitcoin Price Has to Break Above $6,400 to Confirm Bull Market
While everyone is drooling over the possibility that the long-awaited bull run is already there, according to the latest Bitcoin news on u.today; well-known crypto trader Alex Krüger wants the Bitcoin bulls to hold their horses. The top cryptocurrency has to touch $6,400 in order to make sure that crypto winter has yielded to spring. When we look at the bullish trend it seems that the long-lasting crypto winter is finally thawing. The fact the top coin Bitcoin has turned bullish on its weekly timeframe shows that we could be in the middle of another bull run.
Bitcoin (BTC) Price Today – BTC / USD
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